Order in Council 553/2025

On the recommendation of the undersigned, the Lieutenant Governor of Ontario, by and with the advice and concurrence of the Executive Council of Ontario, orders that:

Pursuant to subsection 22(1) of the Financial Administration Act, the Minister of Finance, on behalf of Ontario, is authorized to guarantee to one or more financial institutions authorized to do business in Ontario (the “Lender(s)”) the repayment by Southwest Indigenous Transmission Limited Partnership, a limited partnership formed and existing under the laws of the Province of Ontario (the “Borrower”) of a loan from the Lender(s) to the Borrower (the “Loan”) provided the Loan is used by the Borrower to make an investment in Chatham X Lakeshore Limited Partnership, which owns and operates an electric power transmission line between Chatham to Lakeshore, in the Windsor-Essex region of Ontario together with the sum of any capitalized interest on the principal amount of the Loan and any other fees, costs or charges (including any early termination or make-whole amounts or indemnities due under the Loan or related to enforcement of the guarantee), in accordance with the terms of this Order.

The Minister of Finance is authorized to determine the terms, conditions and amount of the guarantee authorized under the first paragraph of this Order (which guarantee may include ancillary agreements), provided that

1. the principal amount of the Loan shall not exceed $45,000,000;
2. the maximum term of the guarantee of the Loan shall not exceed 50 years from the date of the first advance under the Loan; and
3. the Borrower shall pay an annual fee in respect of the guarantee to the Minister of Finance in the amount of 15 bps of the outstanding amount of the Loan.